Kevin Donald Wanner— Selling Fictitious Certificates of Deposit
Kevin Donald Wanner Allegedly Sold Fictitious Certificates of Deposit
Kevin Donald Wanner, a Bismarck securities and insurance agent, allegedly offered for sale and sold to a North Dakota resident a ‘time certificate of deposit’ purporting to represent an investment in an FDIC insured interest bearing account, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC).
Kevin Donald Wanner also allegedly misrepresented to the investors that their funds would be deposited with the proper FDIC member financial institutions represented, but instead deposited their funds into accounts owned and controlled by Wanner for his own personal use, the AWC notes.
Wanner also allegedly sold the investments, at above current market rates, the AWC reports.
Kevin Donald Wanner Allegedly Failed to Produce Documents by FINRA Deadline and Failed to Appear for On-the-record Testimony; Barred by FINRA
Kevin Donald Wanner, a securities agent with Questar Capital Corporation, allegedly failed to produce any documents by the deadline and failed to appear for on-the-record testimony, according to the AWC, after FINRA began an investigation into the events leading up to Wanner’s termination.
As a result, Wanner violated FINRA Rules and has consented to the imposition of a bar from associating with any FINRA member in all capacities, the AWC notes.
One should also note that, according to the AWC, Kevin Donald Wanner neither admitted nor denied the FINRA findings.
The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors
The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of the sale of fictitious Certificate of Deposits. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of the fictitious sale of Certificates of Deposit are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.